Applied Graphite Technology Corporation CEO Don Baxter joined Steve Darling from Proactive to announce the debut of the company's shares on the TSX Venture Exchange following the completion of its previously announced qualifying transaction. The company will now trade as Applied Graphite Technologies Corporation (TSX-V:AGT) under the ticker symbol 'AGT'. Baxter shared with Proactive that Applied Graphite Technologies Corporation holds a significant stake of 90% in C-Tech Ceylon Limited, a Sri Lankan corporation, which fully owns the Dodangaslanda graphite properties in Sri Lanka.
These properties, located within the vein graphite district, feature historical workings and vein graphite outcrops. The company is swiftly advancing towards production to address the growing demand for graphite, particularly in light of potential restrictions on graphite exports from China. With plans to scale up to 30,000 to 50,000 tonnes annually, Baxter outlined the company's strategy, starting with selling run-of-mine graphite and progressing to producing battery-grade graphite. He emphasized the company's advantageous position to meet critical supply demands for battery anodes, citing quick development times facilitated by favorable terrain conditions in Sri Lanka.